Small businesses are the backbone of Montgomery County’s economy, and Mayor Steven Reed has emphasized their importance in today’s economic climate. In response to this, the city and county have joined forces to utilize funding from the American Rescue Plan to provide support for these vital enterprises.
The Small Business One Stop Shop will be created with a portion of the funding, providing training for individuals looking to start, manage, and expand their small businesses. Gaitway Solutions will oversee the management of this program. Additionally, the Access to Capital loan program, a $2.5 million low-interest, revolving small business loan fund, will be managed by HOPE Credit Union. Small businesses will have the opportunity to apply for loans of up to $250,000.
Anna Buckalew, president and CEO of the Montgomery Area Chamber of Commerce, is ready to implement a comprehensive system supporting small businesses in the community like never before. This initiative is a significant step towards bolstering the resilience of small businesses and fostering economic growth in the region.
In other news, recent Olympic trials held at Montgomery Whitewater generated a substantial $1.5 million economic impact. For more information on this topic, please reach out to Alex Gladden at agladden@gannett.com or on Twitter @gladlyalex.
